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Investing.com -- NYSE American LLC has initiated proceedings to delist the common stock of Palatin Technologies (NYSE:PTN) due to unsatisfactory selling price of the company’s common stock, as announced today. The trading of the company’s common stock has been immediately suspended.
The exchange had previously declared on April 10, 2025, that Palatin Technologies was not suitable for listing, as the company failed to show that it had regained compliance with Sections 1003(a)(i), (ii) and (iii) of the NYSE American Company Guide by the end of the 18-month compliance plan period, which ended on the same day.
Palatin Technologies has the right to appeal the decision to delist its common stock. The appeal would be reviewed by the Listings Qualifications Panel of the Committee for Review of the Board of Directors of the Exchange. Following the completion of all relevant procedures, including any potential appeal by the company, NYSE American will submit an application to the Securities and Exchange Commission to delist Palatin Technologies’ common stock.
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